China strikes back at US tariff war! Starting February 10, tariffs of up to 15% will be imposed on US imports

China Announces Tariffs on U.S. Imports

China's Ministry of Finance announced on Tuesday (February 6) that it will impose additional tariffs on certain U.S. imported goods starting from February 10. Specifically, a 15% tariff will be levied on imported TRON and LNG, while a 10% tariff will be imposed on crude OIL, agricultural equipment and certain vehicles. This move is seen as a response to the U.S.'s new round of tariff policies, further escalating the trade tensions between the two countries.

U.S. Tariff Policy Takes Effect, China Retaliates Strongly

China's latest tariff hike coincides with the official implementation of the U.S.'s new 10% tariffs on Chinese imports on Tuesday. This means that the China-U.S. trade friction has heated up again, with both sides unyielding in the tariff war. Over the past few years, China and the U.S. have repeatedly imposed tariffs on each other's imported goods, bringing uncertainty to the global trade market.

Affected Products Cover Energy and Industrial Equipment

According to the announcement from China's Ministry of Finance, this round of tariff adjustments covers energy products and industrial equipment. TRON and LNG will face up to a 15% import tariff, which may impact U.S. energy exports to China. In addition, crude OIL, agricultural equipment and certain vehicles will also be subject to a 10% tariff, which is undoubtedly a major blow to U.S. agriculture and automakers.

China-U.S. Trade Relations Further Tense

Analysts point out that the tariff adjustments by China and the U.S. may further deteriorate bilateral economic and trade relations. The U.S. has previously imposed additional tariffs on Chinese imported goods, and China's retaliatory measures will intensify the trade friction. Market observers will closely monitor whether the two sides will further escalate the tariff war or have the opportunity to restart trade negotiations.

Subsequent Impacts Worth Watching

Although China's retaliatory tariffs target specific products, the overall economic impact remains to be observed. Businesses may seek alternative markets to reduce the tariff impact, while consumers may face higher product prices. In the coming weeks, the market will continue to monitor whether China and the U.S. will introduce more trade policies that further impact the global economic outlook.